Embraer has released its Executive Aviation Market Outlook 2014-2033 projecting a need for 6,250 jet aircraft in the 70 to 130-seat capacity category (2,300 units in the 70 to 90-seat segment and 3,950 units in the 90 to 130-seat segment). By 2033, the Asia Pacific and China will be the largest air travel markets in the world, accounting for a combined 40% of total global RPKs.

The Report indicates among the 6,250 aircraft in the future 20 years, replacement of aging aircraft will represent 56% of new deliveries and 44% will support market growth. The world’s fleet-in-service of jets with up to 130 seats will increase from 3,850 aircraft in 2013 to 6,580 by 2033. The value of all deliveries is approximately 300 billion dollars (list price).

Embraer foresees the worldwide demands for air transport according to the revenue passenger kilometers (RPKs), increasing an average of 4.8% annually through 2033. By then, the demands will reach 13.6 trillion RPKs for all commercial aviation segments.

By region, the Middle East and China will keep leading with annual RPK growth of 7.1% and 6.8% respectively, followed by Latin America at 6.0%. The Asia Pacific, the CIS (Commonwealth of Independent States) and Africa will each realize growth rates of around 5%. The Europe (3.9%) and North America (2.7%) will grow more slowly. By 2033, the Asia Pacific and China will be the largest air travel markets in the world, accounting for a combined 40% of total global RPKs. Comparatively, the Europe and North America will account for 36%.

Embraer expects the jets in the 70 to 130-seat category will sustain hub-and-spoke efficiency, complement narrow-body operations, provide an optimal balance of frequency and seats, and encourage the development of new markets with lower-risk, incremental capacity. Multiple functions of the jets in the 70 to 130-seat category will generate significant demands for new aircraft in the segment.